Market Information

The oil and gas industry in Argentina has more than 100 years of experience and over 66 thousand drilled wells, and has become one of the safest and cleanest.

The estimates of shale gas and shale oil prospects open up a new energy landscape. The US Energy Information Administration (EIA) positions the country as the second world power in shale gas and fourth in shale oil, with 802 tcf of technically recoverable gas resources and 27,000 million barrels. The development of unconventional resources may multiply current gas reserves 40-fold and oil reserves 10-fold, leading to a significant increase in production.

In the coming years, as the primary energy matrix is strongly oriented towards hydrocarbons, it will be necessary to increase operational capacity and services related to the oil and gas industry. In order to meet the upstream, midstream and downstream growing demands, everything from equipment, chemical products, industrial safety elements and engineering services to the development of specific software, among many other products, will be required. National and international companies are already operating in the region, especially in the Vaca Muerta formation (Neuquen Basin) and in the D-129 source rock of the San Jorge Gulf Basin.

In 2015, annual oil production was 30,878,747 cubic meters; 54% of the total annual production was obtained by primary and 46% by secondary recovery. The annual production of natural gas reached 42,895,804 thousand cubic meters.